I am having a very arduous time trading this market. I got fooled into the tape in the morning, fooled out later on, and closed at the lows -1.8%. I am now slow walking myself to perdition — off 9% for the month. My single worst drawdown since I’ve made my portfolio public in Stocklabs is -10.0% when my account was $434,000 in September of 2021. Right now my account is a touch under $1.1m.
I say that for two reasons.
1. To boast.
2. No matter how fucked you might think you are, eventually your true nature will shine.
In this case, my true nature happens to be one of a winner — always have been since the days of my early youth. On occasion there are pitstops and fuckers get into my path and derail me. At times it appears I might actually careen into a wall loaded with nothing by dynamite sticks and gasoline. But I always manage a way out from my follies and soon return to do great things, such as making money in the stock exchange.
I admit, this tape is an anathema to me. I do not like this set up and find it confusing.
For example, over the past week close to 200 stocks are down more than 20%. Names include FTNT -21%, RMD -20%, IFF -25%, SEDG -27%, CARL iCLOWN -25%, MTZ -25%, ZI -27%, GNRC -27%, PLUG -22%, SAGE -45%, UPST -46%, NVEI -46%.
The list goes on and on — a graveyard filled with former “hot stocks” have littered the balance sheets of faithful suckers. On the other hand, GOOGL, $NFLX, and $META are up.
Rates are soaring again and inflation is obviously still a concern for the Fed, up against a backdrop of COLLAPSING housing starts — down close to 20% YOY nationwide.
Both healthcare and tech have been down by 3% overall the past week yet the VIX is under $16, suggestive that nothing is as it seems. There isn’t risk premium built into puts — because people are confident that Joe Fucking Biden is in control. With that said, we are doling out yet another $24b to Ukraine, an amount so obscene that people don’t even care at this point. We have donated more money and arms to Ukraine more than any donation given to any country, by any country, in modern history.
Yet zero fucks given.
And what did we get? A failed offensive due to lack of air support and training — lots and lots of dead people on both sides. This, for our leaders, is a desirable outcome. I am not happy to see Russia winning — because it means Ukrainian men are dying.
You can see how betting against this entire narrative is both an alluring and an emotional one — which is a recipe for potential catastrophe. In spite of my 9% debacle MTD, I’ve tried to be measured in my approach — always keeping both longs and shorts. My luck has run out and my persistence has not produced desirable outcomes. I closed the session again NET SHORT nearly 30% in inverse ETFs, 20% cash, the rest longs.
Should I drawdown again tomorrow, I will be forced to reduce my trade size to prevent further damage to my accounts.
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Well-spoken for a communist, comrade. Why don’t you just move the family there since you’re so enamored with Russia and so disenchanted with the USA.
He might prefer Sweden. They have a good-looking women’s football
(soccer) team, which probably will win the World Cup.